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South Florida

Mast Capital’s Miami Beach purchase price revealed

Camilo Miguel
Camilo Miguel

Mast Capital spent $17.1 million to acquire nearly two acres in the mid-Beach section of Miami Beach and secured $11.1 million in financing for the purchase, Miami-Dade County records show.

The Camilo Miguel-led company bought the 4000 Alton Road site from nonprofit Talmudic College 4000 Alton Road Inc. in a transaction recorded on Monday. Mast plans to develop a luxury residential project on the site, which has existing approvals for 162,000 square feet of residential space.

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Mast received the mortgage from Goldman Sachs Bank USA, according to county records.

Mid-Beach is experiencing significant development and investment activity. Notable projects include the mixed-use Faena Miami Beach, Ian Schrager’s Residences at the Miami Beach EDITION and Lionheart Capital’s Ritz-Carlton Residences, Miami Beach. — Eric Kalis

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